Ruto: The economy is ready for take off
President William Ruto says he’s managed to steer the country off a potential economic crisis by successfully repaying several loans.
This, the Head of State said, set the stage for the growth of the economy which will be marked by investor confidence.
President Ruto spoke in Naivasha on February 21, 2024, following a three-day meeting with several stakeholders including government-allied politicians, plus Cabinet and Principal Secretaries.
The President further explained that the signs of investors were already visible, including the strengthening of the shilling against the US dollar and other major currencies.
The shilling has gained by almost 10 percent to the US dollar in recent times and is currently trading at Sh142 which according to President Ruto, has reduced the country’s debt by Sh722 billion.
“Our sacrifices and efforts have not been in vain. Our commitment to strategic debt management, fiscal responsibility, and general economic policies has yielded substantial results,” said President Ruto.
“The successful turnaround has pulled Kenya away from the brink of debt distress, putting our finances in good working order and establishing the necessary conditions to execute BETA on a sound footing,” said President Ruto.
The President further expressed optimism about the positive impact on the economy and stressed that his chief priority will be to secure job opportunities for Kenyans.
President Ruto has been keen on seeking jobs for Kenyan graduates outside the country with deals already agreed upon to export 2500 nurses to Saudi Arabia.
Other job opportunities, according to the President, are available in Germany, subject to the tying up of agreements between the two countries.
Besides, the President has vouched for the reduction of imports and an increase in exports in a bid to offer opportunities to Kenyans. He has also championed for the affordable housing program which he says will employ hundreds of thousands of Kenyans.
Also read: Nikhil Sachania eyes Safari Rally glory